Netflix Inc (NASDAQ:NFLX, ETR:NFC)’s UK arm has said revenue hit a record last year after the streaming service moved to clamp down of password sharing among viewers.
Revenue ticked up 8% to £1.67 billion over the year to December on the back of a 7% jump in subscribers, the company reported on Wednesday.
This coincided with an increase in prices, which saw the UK arm generate a post-tax profit of £46.5 million, up 74% on 2022.
Wednesday’s results also showed £35 million had been paid out as part of an interim dividend from the UK business last year.
Netflix had moved to crack down on password sharing between different households throughout the year, which saw its global subscriber numbers reach 270 million as of April.